Brightcove Inc. (NASDAQ:BCOV) Sees Significant Increase in Short Interest

Brightcove Inc. (NASDAQ:BCOV) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 163,600 shares, a growth of 111.6% from the September 15th total of 77,300 shares. Based on an average trading volume of 175,900 shares, the short-interest ratio is currently 0.9 days.

Insider Activity at Brightcove

In related news, major shareholder Edenbrook Capital, Llc bought 30,000 shares of Brightcove stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $2.01 per share, for a total transaction of $60,300.00. Following the completion of the acquisition, the insider now directly owns 6,561,414 shares of the company’s stock, valued at approximately $13,188,442.14. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have purchased 88,926 shares of company stock worth $179,825 over the last ninety days. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Brightcove

Institutional investors have recently modified their holdings of the company. Pitcairn Co. acquired a new position in shares of Brightcove during the first quarter worth approximately $27,000. Price T Rowe Associates Inc. MD purchased a new stake in Brightcove in the 1st quarter valued at $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Brightcove in the 1st quarter valued at $33,000. Aaron Wealth Advisors LLC purchased a new stake in Brightcove in the 2nd quarter valued at $34,000. Finally, XTX Topco Ltd purchased a new stake in Brightcove in the 2nd quarter valued at $36,000. 80.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Brightcove from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Brightcove Stock Performance

Shares of BCOV opened at $2.23 on Friday. Brightcove has a 52-week low of $1.55 and a 52-week high of $3.18. The business’s 50 day moving average price is $2.15 and its two-hundred day moving average price is $2.11. The firm has a market cap of $99.42 million, a PE ratio of -10.14 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. Brightcove had a negative return on equity of 8.86% and a negative net margin of 4.28%. The firm had revenue of $49.25 million for the quarter. During the same period last year, the firm posted ($0.07) earnings per share. Research analysts predict that Brightcove will post -0.32 EPS for the current fiscal year.

Brightcove Company Profile

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company’s solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.